% of wage to spend on rent
 

what is the % of your wage would/ or do you spend on your rent in australia??

here in belgium we spend +/- 20%, but seeing that we have a good combined income here I'm sure it won't be the same in Oz when we finally get there..

Re: % of wage to spend on rent
 

Currently I spend 16% of my net take home pay on rent, but I'm sharing a house with 2 friends so that helps a lot.

Re: % of wage to spend on rent
 

50% of our weekly wage goes on rent. We manage to pay the school fees, utilities and groceries with what's left. Just.

Re: % of wage to spend on rent
 

When we were renting it was between 35 and 40% of salary. Now we are buying, it is about 30%, but we did have some equity to put into the house so the mortgage is "only" 400k!!:blink::eek:

Re: % of wage to spend on rent
 

Ours was almost exactly the other way around :D

We didn't rent for long, about 8 months, the rental at the time we took it on was 30% of Himself's take home pay and the mortgage we have now was 38% of Himself's take home pay (at the time - it's slightly less as a percentage thanks to pay rises over the last 3 years we've lived in this house)

We do also pay fortnightly, so we are paying more than we need to so we can pay it off quicker.

Re: % of wage to spend on rent
 

Probably about 30%, but looking to move to a cheaper rental!

Re: % of wage to spend on rent
 

We pay about 25% of take home on rent, it was more like a third but then OH got a promotion.

Re: % of wage to spend on rent
 

I just bought an off-the-plan apartment to take advantage of the first home buyers grant and free stamp duty. I plan to initially stay there for 6 months to comply with the legal requirements, then move back to shared rent with friends at <1/2 the cost of my mortgage repayments (being my "relevant cost"). All my savings will be shoved into the offset/redraw account to minimize my interest expense.

I'll rent out the unit so I can claim tax depreciation and other expenses, for at most 6 years at a time, so I can still claim main residence exemption for capital gains tax purposes in the end. I plan to make the taxman and tenant pay for my equity in the first few years.

Re: % of wage to spend on rent
 

Living alone and renting, living in a decent suburb-- and not in a shitty little box-- I always allowed for 35% +/-5% , sharing 25-30% again +/- 5%.

I always earned better than the national average wage--not much more on occasion-- but more.

Re: % of wage to spend on rent
 

Same as us. Currently forking out about 35% of monthly wages for fortnightly mortgage payments. Rent was just under 25% over 3 years ago but in a much smaller house with no garden and in a very different suburb.

Re: % of wage to spend on rent
 

we'll be looking into buying a business when we arrive, so just having a think about the net profit the business should be producing for us to have a nice lifestyle

ATM I don't want to spend more than 25% on rent, but that could be the difference between a shitbox and a dream house ;)

thanks for the replies!! :amen:

Re: % of wage to spend on rent
 

Forgot to mention---in Sydney.